Why in News?
The Cotton Corporation of India bought 100 lakh bales at MSP amid low domestic demand; rising imports and higher MSP may impact future operations and textile industry competitiveness.
Description:
- Established in 1970 under the Companies Act, 1956
- Government of India corporate agency under Ministry of Textiles
- Governed by Textile Policy of 1985
- Engaged in trade, procurement, and export of cotton
- Operates in Punjab, Haryana, Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Andhra Pradesh, Karnataka, Tamil Nadu, and Odisha
- Undertakes Price Support Operations when cotton prices fall below MSP
Cotton Corporation of India Overview:
- Kharif crop, takes 6 to 8 months to mature
- Sowing and harvesting vary with climatic conditions
- Grows in tropical and sub-tropical areas
- Requires 21°C to 30°C temperature
- Growth retarded below 20°C
- Needs 210 frost-free days and 50–100 cm rainfall annually
- Drought-resistant, ideal for arid climates
Economic Importance of Cotton
- Covers 2.1% of world’s arable land
- Contributes 27% to world’s textile needs
- Provides fibre, edible oil, and animal feed
India and Global Cotton
- India is the second-largest cotton producer after China
Cotton Technical Assistance Programme (Cotton TAP-I)
- Implemented from 2011–2018 for Benin, Burkina Faso, Mali, Chad, Uganda, Malawi, Nigeria
- Aimed to improve competitiveness in cotton, textiles, and apparel sectors
- Delivered significant outcomes, leading to demand for a follow-up project
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